The hardest part of business is not usually envisioning where you want to be, it’s implementing a plan of action in logical and effective steps in order to get there. When we’re making plans, these steps will inevitably include a Deep Learning powered retargeting campaign, but let’s not get ahead of ourselves.
Instead, Let’s start with a simple statement:
“We want to increase online sales”.
There are many ways that you might do, such as; improving your online store’s UI and UX, increasing product range, and running promotions. However, the most likely solution is digital ad campaigns. So, you can add focus to your original statement by saying:
“We need to run digital ad campaigns to increase online sales”.
Many companies make a couple of missteps at this point by trying to skip to the end or doing things out of sequence. Here’s a simple breakdown of the questions you need to ask… and the order in which you ask them while evaluating your advertising model options.
Table of Contents:
- Step 1 – Are we managing campaigns in-house or through an agency?
- Step 2 – What is the right mix of ads in our advertising model?
- Step 3 – Who will be our partner(s)?
- Working with RTB House
Step 1 – Are we managing campaigns in-house or through an agency?
Some make the mistake of picturing the ad campaign first. However, before you start designing creatives in your mind, you need to look at the project ahead of you and decide if you have the capacity, skills, and resources to execute in-house or if you need to work with an agency.
There’s no right and wrong way to do. At RTB House, we work with over 250 partner agencies and holding companies–such as WPP, Omnicom, Publicis, Interpublic, Dentsu Aegis Network and Havas–but we also have a lot of success working directly with clients.
There is also no hard and fast rule about which type of companies should work with agencies, and size doesn’t matter. A global electronic retailer, for example, may have enough resources in-house to build a team to run campaigns without an intermediary, but they may also choose an agency to free up those people to focus on other projects. And a small business like a local furniture marketplace may want to keep everything in-house to retain control of their image and costs, or may feel that hiring marketing experts is beyond their current capabilities and that the additional cost of an agency will be a better payoff than the effort that recruitment will require. It may also seem like a surer bet. Last but not least, consider how each choice affects your advertising model.
Step 2 – What is the right mix of ads in our advertising model?
This is a key part of your advertising model strategy and the question that many people lead with, but it should actually be the middle step. Once you’ve decided if you have the resources to run campaigns in-house or if an agency is a better fit for your business, the next step is to consult with that team on if you need retargeting or branding campaigns – or perhaps a mix of both.
In some cases, the type of campaign is dictated by the operational model of the business. A global drinks brand like Coca-Cola is unlikely to put a strong emphasis on retargeting campaigns, as the vast proportion of sales happen offline. Therefore, they will naturally gravitate toward branding campaigns to keep front-of-mind. Meanwhile, a smaller fashion e-store may operate solely online. The absolute best value for such a business are retargeting ads that lead to conversion and transform from browsers into buyers who may become repeat customers.
However, there are brands like the aforementioned global electronics giant that may consider which campaign they need right now. Perhaps they need a retargeting campaign to get users converting through their own-brand store rather than via third-party marketplaces. Or maybe they need a branding campaign to raise awareness of a new product line.
Step 3 – Who will be our partner(s)?
Once you have your internal or agency team in place and know the ads you want, the next step is to go and find the right partner who align with your desired advertising model. You are looking for a DSP with a strong track record with the type of ads you want to display and a recognized presence in the location where you will be running the campaign.
Finally, decide if you are thinking about a partner or partners. You may also want to try multiple retargeters at the same time to see if you get more coverage and better results., You might also use a multiple retargeting strategy as a way to assess the performance of different providers against one another on a level playing field before deciding which to choose for the longer term.
One thing to remember is that having two or three retargeters doesn’t mean doubling or tripling costs. By capping the budget, and spreading it between multiple providers, you make sure that you are not running beyond your capabilities.
Working with RTB House
In conclusion, selecting an appropriate advertising model is vital for the success of any campaign. We hope this is a helpful guide to setting up a successful campaign. At RTB House, we pride ourselves on sharing knowledge, but also on being flexible about how we run campaigns. We believe that every business is unique, so clients should have total choice and control over how campaigns work best for them.
We’re equally comfortable working directly with your business or through an agency partner, as a sole retargeter or in a multiple retargeting model.
Contact us to talk about building campaigns for your brand in the way that works best for your business.